LB Finance Rs. 3 b debenture issue oversubscribed

Non-bank lender LB Finance yesterday said its Rs. 3 billion debenture issue had been oversubscribed.  

In a stock exchange filing the company said that the issue had been closed on Monday. Earlier the finance company said it would issue 20 million debentures with an option to issue up to a further 10 million debentures in the event of an oversubscription of the initial issue, at an issue price of Rs. 100 a share. The subscription list of the issue was opened on 4 December. Capital Alliance functioned as mangers to the issue. LB Finance is also a leader in the country’s microfinance sphere. The company recently announced plans to enter into the microfinance space in Myanmar.